ROCHESTER, N.Y. (AP) - Eastman Kodak Co. has been warned by the New York Stock Exchange that its stock will be delisted if the price remains below $1 per share for the next six months, the ailing photography company said Tuesday.
The exchange put the company on notice after its shares' average closing price was below $1 for 30 consecutive trading days.
Under NYSE rules, the Rochester, N.Y., company has six months to regain compliance with the minimum share price requirement. That means its stock must have a closing price of at least $1 a share on the last trading day of any calendar month during the period and must maintain that average over the previous 30 trading days or on the last day of the six months.
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Publishers Notes: Wow, this is amazing. What many of you don't know about me is my 30 year involvement with Eastman Kodak. Not only did I manufacture products for them, I invented many products in which Kodak either recommended, sold and or used, including many in their own manufacturing facilities around the world.
So when I see a company in which I have been familiar with for probably a total of 46 years of my life, this is sad to see. Maybe one day I'll go into some details about my many years in the Graphic Arts/Printing/Photo Resist Industries.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
I guess they've become a victim of technology-- digital imaging.
ReplyDeleteWe used to call Kodak "The Great Yellow Father" when I was in the Air Force.
Times change, and pages turn to a new chapter.
You can make the best film available, but if the market disappears, you'd better be ready with Plan B.
Apparently they weren't.
Here's an interesting thought.
ReplyDeleteWhen you ask people what first comes to mind when you mention diapers, most reply Pampers. When you ask about fil, most would reply Kodak.
However, I was in that Industry for many years and quite frankly Kodak was nowhere near the best quality. Agfa, Konica and several others actually had far greater quality both in black and white and in color.
Kodak simply advertised and marketed the most, therefore people believed it was better. To those professionals out there that used to be in the business, there's no denying what I'm saying.